Similar Search Results

Nonlinear ARDL Approach and the Demand for Money in Iran

Bahmani-Oskooee, Mohsen; Bahmani, Sahar - In: Economics Bulletin 35 (2015) 1, pp. 381-391

To account for currency substitution, most studies today include exchange rate as a determinant of the demand for money, in addition to income and interest rate. This tradition goes back to Robert Mundell who introduced this notion in 1963. In this paper, we demonstrate that the failure to find...

Persistent link: https://www.econbiz.de/10011199641

Financial Innovation and Stability of Money Demand Function in Postâ€“reform period in India

Singh, Prakash; Pandey, Manoj Kumar - In: Economics Bulletin 30 (2010) 4, pp. 2895-2905

Innovation in financial sector, financial reforms and changes in the policy environment are the factors responsible for instability in the money demanded in an economy. The dawn of 1991 balance of payment crisis in India brought much needed reforms in the economy and financial sector and...

Persistent link: https://www.econbiz.de/10008692048

The Demand for Money in a Simultaneous-Equation Framework

Jamal, A. M. M.; Hsing, Yu - In: Economics Bulletin 31 (2011) 2, pp. 1929-1934

This paper estimates the demand for money in the U.S. within a model where the money supply function is also considered simultaneously. The explanatory variables for the money demand function include a measure of the interest rate, real income and the exchange rate. The explanatory variables for...

Persistent link: https://www.econbiz.de/10009150879

Modelling the Demand for Money in Sub-Saharan Africa (SSA)

Salisu, Afees; Ademuyiwa, Idris; Fatai, Basiru - In: Economics Bulletin 33 (2013) 1, pp. 635-647

homogenous and heterogeneous panel cointegration methods to estimate the money demand function in SSA; and (iii) we consider … order to further validate the choice of heterogeneous panel cointegration for modelling money demand in SSA. We find a … cointegration method is valid and ignoring this heterogeneity feature when modelling money demand for SSA countries may yield biased …

Persistent link: https://www.econbiz.de/10011278563

Testing the International Crude Oil Market Integration with Structural Breaks

Aruga, Kentaka - In: Economics Bulletin 35 (2015) 1, pp. 641-649

As spread between the WTI and Brent crude oil price is widening after early 2011, it could be that the price relationship between these crude oil is changing. To see if such change affected the price linkages among the international crude oil markets, this study investigates if the world's major...

Persistent link: https://www.econbiz.de/10011207119

A new monetary aggregates measurement: Application to Taiwanese data

Yang, Ju-Ann; Chou, Shyan-Rong; Lee, Chen-Hsun - In: Economics Bulletin 31 (2011) 1, pp. 905-915

monetary aggregates and GDP, to utilize the data in the most efficient manner via the nonparametric rank test of cointegration …

Persistent link: https://www.econbiz.de/10008868007

Investigating time series properties of a dynamic system for Japan's import demand

Kurita, Takamitsu - In: Economics Bulletin 30 (2010) 1, pp. 450-460

multivariate cointegration analysis of Japanese data reveals a stable economic linkage interpretable as a long-run import demand …

Persistent link: https://www.econbiz.de/10008621706

Tests on price linkage between the U.S. and Japanese gold and silver futures markets

Aruga, Kentaka; Managi, Shunsuke - In: Economics Bulletin 31 (2011) 2, pp. 1038-1046

We tested the price linkage, the law of one price (LOP) condition, and the causality of the price linkage between the U.S. and Japanese gold and silver futures markets with consideration of structural breaks in the price series. The LOP condition did not hold for both the gold and silver markets...

Persistent link: https://www.econbiz.de/10008918512

Health care expenditures in Asia countries: Panel data analysis

Boungnarasy, Munic - In: Economics Bulletin 31 (2011) 4, pp. 3169-3178

panel unit root and cointegration tests from 11 Asian countries using balanced panel data for the period of 1975ï¼2006. The … findings suggest the presence of unit-roots and cointegration in HCE and GDP in Asian data for both cases of with and without …

Persistent link: https://www.econbiz.de/10009365637

Cointegration between carbon spot and futures prices: from linear to nonlinear modeling

Chevallier, Julien - In: Economics Bulletin 32 (2012) 1, pp. 160-181

This paper develops two nonlinear cointegration models - a VECM with structural shift and a threshold cointegration … threshold cointegration models. We find strong error-correction effects for the carbon futures price. Asymmetry is implied in …

Persistent link: https://www.econbiz.de/10009397028